News Agency of Nigeria
Aiyedatiwa backs Aiyenuro’s 7-day Guinness barbing marathon record bid
General News

Aiyedatiwa backs Aiyenuro’s 7-day Guinness barbing marathon record bid

By Sarafina Christopher

Gov. Lucky Aiyedatiwa of Ondo State has pledged his support for Joshua Aiyenuro, Chief Executive Officer, T-Jos Signature, as he embarks on a Guinness World Record attempt for the Longest Haircut Marathon.

The governor, who made the pledge on Thursday at a meeting in his Abuja Lodge, expressed enthusiasm for the project and promised to back Aiyenuro’s efforts to bring the title back to Ondo State.

Aiyenuro, the Official Barber of the Super Eagles, was unveiled on Tuesday in Abuja by the leadership of the African Civil Society Forum (AFRICSOF) in collaboration with T-Jos Signature.

“Beyond the record attempt, Aiyenuro’s vision is to empower thousands of Nigerians with cutting-edge barbering skills, providing them with a valuable trade and gainful employment opportunities.

“His ambitious project aims to establish over 10,000 barbing points across the country, creating a vast network of jobs for young people.

“This initiative promises to have a profound impact on the nation, not only by creating jobs but also by combating social vices and steering young people towards a brighter future.

“By engaging youth in meaningful activities, T-Jos’s project seeks to foster a more productive and positive society.

“This phenomenal feat is set to showcase Joshua’s exceptional barbering skills and unwavering endurance.”

AFRICSOF said that with the attempt, Joshua aimed to make history and inspire a nation and Africa at large.

“His dedication to his craft and his passion for excellence make him the perfect candidate for this record-breaking endeavour,” the forum said.

The barbing marathon has been scheduled to hold between June 10 and June 17 at the Velodrome of the Moshood Abiola National Stadium, Abuja.(NAN)(www.nannews.ng)

Edited Chijoke Okoronkwo

Stakeholders urge climate action for rural women farmers
Agriculture , Environment

Stakeholders urge climate action for rural women farmers

By Victor Adeoti

Stakeholders have called for the inclusion of rural small scale women farmers in climate change action plan.

They said that amplifying the voices of rural women farmers, who stand at the frontline of climate impacts, was not only timely but essential for equitable and sustainable development.

The stakeholders made the remarks at a one-day workshop on Drafting and Validation of Rural Agricultural Women’s Perspective On State’s Climate Action Plan on Wednesday in Osogbo.

The News Agency of Nigeria (NAN) reports that the workshop was organised by a non-governmental organisation (NGO), Advocate For Sustainable and Inclusive Community Development, with the support of Urgent Action Fund Africa, for rural women farmers in Osun.

The state Commissioner For Environment and Sanitation, Mr Mayowa Adejoorin, said the crucial perspectives and experiences of rural women farmers, who were mostly affected by climate change, had been neglected for too long.

Adejoorin, represented by Mr Samuel Ogunleye, Director of Climate Change and Renewable Energy in the ministry, said the state government recognised that a truly effective and sustainable climate action plan could not be formulated in isolation.

“You (women) are the custodians of our land, the backbone of our food security, and the first to witness and adapt to the shifting patterns of our climate.

“Your deep understanding of local ecosystems, traditional farming practices, and the subtle changes in weather patterns is not just scientific enough; it is critical data that must inform our strategies and actions.

“This is why your participation in this process is not merely symbolic, it is fundamental to the success of this endeavor.

“Climate change presents unique challenges to our rural women farmers”, he said.

Also, Prof. Opeyemi Ekundayo, the Director of Centre For Gender and Social Policy Studies, Obafemi Awolowo University, Ile-Ife, said that climate change was not gender-neutral.

Ekundayo said that women farmers were already contending with systemic barriers, such as limited access to resources, decision-making exclusion, gender-based violence, among others.

She, however, said that a climate policy that failed to integrate the views and experiences of women farmers risked perpetrating the aforementioned barriers.
Ekundayo said that the initiative of the NGO to mobilise women’s groups and demand gender sensitive policies was a powerful step towards ensuring women farmers inclusion in climate change policy.

In her remarks, the NGO’s Executive Director, Chioma Otugo, said that the organisation was galvanising movement of women’s group to demand inclusion of gender issues in the proposed climate plan actions by the state government.

Otugo noted that the organisation was currently implementing a project on a gender reflective policy for the state climate change policy.

She said the policy was a critical document that would impact women farmers, businesses and environmentalist in the state.

“Women farmers already facing severe economic barriers, decision-making power and climate change challenges exacerbates these inequalities
“Our mission is to enhance the lives of women, girls, and youth by promoting gender equality, economic empowerment, and inclusive growth.

“Our goal is to foster sustainability, resilience, and inclusivity, ensuring that every individual has the opportunity to advocate for their rights and contribute to social and economic progress”, she said.

Also, the Permanent Secretary, Ministry of Women Affairs, Mrs Abimbola Babatunde, said the workshop was timely, as it reflected a deep understanding that climate action must be inclusive to be effective.

Babatunde, represented by Mrs Olufunmilola Adewale, Director of Gender Affair in the ministry, said that rural women farmers were among the most vulnerable yet most resilient in the face of climate challenges.
She said the farmers desired a prominent voice in shaping policies that affect their livelihood.

“As a ministry, we are steadfast in our commitment to promoting gender-responsive climate action”, she said.(NAN) (www.nannews.ng)

Edited by Ayodeji Alabi

Digitisation crucial to combating corruption —–BPP
Economy/Business

Digitisation crucial to combating corruption —–BPP

By Okeoghene Akubuike

The Bureau of Public Procurement (BPP), says digitalisation across all economic sectors is essential, as IT plays a crucial role in combating corruption and driving the country’s advancement and transformation.

This is contained in a statement issued by Zira Nagga, Head, Public Relations, BPP, in Abuja on Thursday.

The statement said Dr Adebowale Adedokun, the Director-General (D-G), BPP, made this known while receiving a delegation from the National Information and Technology Development Agency (NITDA) in his office in Abuja.

It said the visit was aimed at deepening the relationship between the two agencies.

Adedokun, who described the NITDA visit as a welcome development, said it would pave the way for ensuring standards and compliance were met in the procurement of IT-related projects.

The D-G emphasised the importance of digitising procurement processes and IT-related projects, which helped reduce turnaround time, curb corruption, and prevent the duplication of IT-related projects.

He said the BPP and NITDA have to take ownership of the process, as both agencies have a responsibility under President Bola Tinubu’s Renewed Hope Agenda to reduce wastage for the country’s progress.

Adebowale reiterated the need to bring on board the Accountant-General of the Federation, the Auditor-General for the Federation, and anti-corruption agencies to monitor the implementation of procurement activities and investigate any fraudulent activity.

He called for a signing of a Memorandum of Understanding (MOU) between BPP and NITDA to strengthen their long standing relationship in the areas of professionalisation through capacity building.

Other areas he said include having a competent ICT and procurement sector; standardisation of procurement documents and IT price Intelligence, for benchmarking in all IT-related projects.

Adebowale suggested that NITDA should automate procurement processes by extending the portal to BPP for information and feedback.

“BPP should also be part of the project design for certification purposes, and the process of including lawyers from the ministries to be groomed on IT-related activities for legal purposes,” he said.

Dr Kasinfu Abdullahi, the D-G/CEO, NITDA, stated that his visit aimed to explore ways to enhance collaboration with BPP, particularly regarding digitalisation, due to the crucial role of IT in all aspects of the nation.

Abdulahi reiterated the need for transformation, reforms and improving governance for effective service delivery, which he said was paramount in the Tinubu-led administration.

He said that NITDA had decided to review the IT Clearance Guidelines to ensure transparency and accountability of MDAs-designed projects.

“ To address the implementation of the guideline, there is a need to build the National E-Government Master Plan and the Nigeria Government Enterprise Architecture, an IT system to deliver seamless services to citizens.

“It will be a digitised government service for integration. “

Abdulahi said that NITDA was proposing three stages for IT guidelines, which include Solution Design for certification purposes and Implementation, by building cyber security certification and network security.

“Also, Quality Assurance, whereby the expectation of the desired project should be met before payment,” he said.

The statement said both agencies agreed to set up a team to work together towards the signing of the MoU, as the visit underscored shared commitment to curb corruption and reduce wastage. (NAN)(www.nanneww.ng)

Edited by Ese E. Eniola Williams

12th CNS Swimming championship kicks off July in Asaba
Sports

12th CNS Swimming championship kicks off July in Asaba

By Ijeoma Okigbo

The Nigeria Aquatics Federation (NAqF), says preparations are in top gear for the 12th Chief of Naval Staff (CNS) Swimming Championship slated for the Stephen Keshi Stadium, Asaba, from July 15 to July 19.

Chinoye Aliyu, president of the federation, said this at a news conference on Wednesday in Abuja adding that the tournament will discover talents to represent the country.

“This championship is a cornerstone of our strategic plan to identify, nurture and prepare elite athletes who will represent Nigeria at international events.

“Recently, Nigeria made history by breaking two African records in the 50m butterfly and 50m freestyle events at the Africa Junior Swimming Championships earlier this month (May).

“It is on the backdrop of these that we encourage swimmers below 18 years of age to register as the CNS tournament has both junior and senior or elite categories.

“We are also expecting a wide range of swimmers; from tertiary institutions, the para-military, states and clubs to register and participate in the tournament.

“The federation’s technical committee and national scouts will be on ground to evaluate performances and select exceptional swimmers for advanced training,’’ Aliyu said.

The President also lauded efforts of the Nigerian Navy and the CNS Vice Adm. Emmanuel Ogalla for his continued support and collaboration towards discovering young talents in the sport.

“I want to particularly thank the Nigerian Navy for restoring the lost glory of swimming in Nigeria.

“Like I said earlier, we broke two records in Egypt, eventually clinching three golds and one bronze medal—an unprecedented feat in the nation’s swimming history.

“This was also due to the support from the CNS who released to us Lt.-Cdr. Labake Oriretan, a former champion and seasoned coach to guide the national team during the competition,” she said.

On his part, Rear Adm. Patrick Nwatu, the chairman, Nigerian Navy Swimming Association, said the partnership has been worthwhile, stressing their continued support for the sport.

“We see supporting NAqF as one of our corporate social responsibility to the nation.

“For almost 14 years now, the Nigerian Navy has been part of this endeavour and we are constantly looking for ways to see how we can improve and contribute our quota.

“We will see how we can identify athletes to be able to participate in international events and also encourage open water swimming.

“Over the years, the collaboration has been worthwhile and we look forward to other areas we can support and partner in the future.

“The last edition was well attended and we look forward to a greater participation this year where we can have our youths express themselves,” Nwatu added.

Also in attendance at the event are Rear Adm. Yusuf Idris, the director of sports Nigerian Navy, Taiwo Oriss, the secretary general of NAqF, Dauda Usman, the vice president of NAqF, amongst others. (NAN) (www.nannews.ng)

Edited by Muhyideen Jimoh

NAF marks 61st anniversary with display of fighter aircraft
Defence/Security

NAF marks 61st anniversary with display of fighter aircraft

By Sumaila Ogbaje

The Nigerian Air Force (NAF) on Wednesday displayed its fighter aircraft, accoutrements and other facilities to the public as ‘Open Day’ activities to commemorate its 61st Anniversary Celebration.

The News Agency of Nigeria (NAN) reports that the NAF had announced the ‘Open Day’ as one of the activities lined up to celebrate the 2025 edition.

NAN also reports that the platforms on display at the Nnamdi Azikiwe International Airport Abuja include Super Tucano, Maritime Patrol LTR42-500 aircraft, L39 Alpha jets and Bell EC135 Helicopter.

Speaking of the activity, the Commander, 307 Executive Airlift Group Abuja, Air Commodore Mohammed Ahmed, said it was a good thing having civilians to see what the Air Force does.

Ahmed said the NAF saw itself as part of the larger society and owned by the people as well, hence the need to open its doors to Nigerians to see what they are and what they do.

“As the air force is to us, that is how the air force is to you. It is taxpayers’ money being used to buy these airplanes and pay our salary.

“So we appreciate you all. And that is why the Chief of the Air Staff wants us to bring you in so that you can see what your money is being used for.

“Now when we are taking pictures, I saw a young man coming up and his father was saying, come to the future.

“Hopefully one day I will see him and celebrate him as a pilot in Nigeria. So that’s what we are doing here now for today.

One of the visitors, Mr Victor Dickson, a Business Consultant, said it made sense to compare what the air force was before and now, saying what the NAF did had been shrouded in secrecy.

According to him, the only thing people know are just planes, people that wear uniforms but we don’t even understand the rank and where they are situated around the country.

“But here we are for the first time in my life, with my wife and my children, having the opportunity to have air force officers introducing themselves to us.

“They are introducing their uniforms, what they use their different uniforms for, and how they are positioned around the country. And then here again I am at the hangar now, seeing their aircraft.

“I think one of them that stood out for me today was when the senior officer used the word, he said, ‘we know we use your taxpayers’ money,’’ he said.

Dickson described the statement by the NAF officer as a sense of accountability, adding that the open day had provided him the opportunity to see the Nigerian air force at work.

He thanked the leadership of the Nigerian air force for creating avenues for the citizens to connect with their military.

A student from Nigerian Tulip International College Abuja, Stephanie Martin-Sini, said it was interesting to see how the NAF works.

She said they had the opportunity to meet pilots, nurses and doctors, as well as being enlightened on the types of aircraft being used by the air force. (NAN) (www.nannews.ng)

Edited by Yakubu Uba

UK sees growing business opportunities in Nigeria — Envoy
Foreign

UK sees growing business opportunities in Nigeria — Envoy

By Chinenye Offor

Richard Montgomery, the British High Commissioner to Nigeria, says the United Kingdom (UK) sees growing opportunities in doing business in Nigeria.

Montgomery made this known during a press conference on Wednesday in Abuja at the UK-Nigeria Economic Growth Conference, themed “Driving Sustainable Trade and Investment.”

He noted that Nigeria had become increasingly attractive for business and investment, particularly in the areas of trade and economic partnerships.

According to him, the UK’s positive assessment of Nigeria’s economic trajectory has positioned the country as an increasingly important partner.

Montgomery attributed the renewed investor confidence to the economic reforms initiated by President Bola Tinubu’s administration.

“Nigeria has become increasingly investible in areas of trade and investment opportunities and the naira is more stable, the foreign exchange reserve is rising, which makes the environment less risky for business

“Naira is more stable and predictability enables investment, foreign exchange reserves are also up which makes Nigeria more investible and less risky for business,” he said.

He also noted that revenue had doubled for many states, signaling economic growth and the potential for more job creation.

“In spite of the current high inflation, we still see strong business prospects,” he added.

Montgomery emphasised that both the UK and Nigerian governments were working collaboratively to stimulate job creation, drive wealth generation, and promote inclusive economic growth.

He also highlighted Nigeria’s growing strategic relevance, both regionally and globally.

“Nigeria is an anchor country in Africa and is playing an increasingly assertive role on the world stage,” he said.

Montgomery outlined three key pillars of the UK’s approach to trade relations with Nigeria: as a positive assessment of Nigeria’s ongoing economic reforms, which make it a more accessible investment destination.

“The UK’s own economic reforms and their relevance for Nigeria, and a roadmap for deepening trade and investment relations between both nations.

Also speaking at the event, Mark Smithson, Country Director for the UK’s Department for Business and Trade in Nigeria, said the Enhanced Trade and Investment Partnership (ETIP) was a cornerstone of the UK’s broader bilateral relations with Nigeria.

According to Smithson, Nigeria is the UK’s second-largest trading partner in Africa and the UK’s largest export market on the continent.

“In February 2024, we signed the Enhanced Trade and Investment Partnership, the first of its kind in Africa and one of only two such agreements globally, highlighting Nigeria’s strategic importance.

“ETIP is a co-developed framework aimed at fostering inclusive growth. It aligns with Prime Minister Rishi Sunak’s growth agenda and President Tinubu’s eight-point economic agenda,” he said.

He said the partnership supports job creation, economic expansion, and reforms in the business environment.

“It also promotes public-private collaboration, technical cooperation, and the removal of non-tariff trade barriers such as quality standards, quotas, import licenses, and complex customs procedures.”

Similarly, Zarah Audu, Director General of the Presidential Enabling Business Environment Council (PEBEC), emphasised the UK’s status as one of the most innovative economies in the world and Nigeria’s strategic role as a partner.

“With our large population and dynamic entrepreneurial base, Nigeria is well-positioned to be a key driver of bilateral economic growth,” she said.

She added that the Nigerian government was committed to positioning the country as a globally competitive, transparent, and business-friendly economy.

“Today offers a critical platform to reflect on the evolving UK-Nigeria relationship and explore how the ETIP can drive sustainable economic growth in both nations.

“The ETIP marks a renewed commitment to strengthening trade, investment, and diplomatic ties between our countries.

“It focuses on shared priorities across sectors such as financial services, clean energy, digital innovation, and the creative economy,” she said.

She stressed the importance of reducing trade barriers, improving regulatory frameworks, and expanding Nigeria’s export capabilities. (NAN) (www.nannews.ng)

Edited by Abiemwense Moru

Nigeria unlocks bn investments in deepwater, gas projects in a year – Presidency
Oil & Gas

Nigeria unlocks $8bn investments in deepwater, gas projects in a year – Presidency

By Philomina Attah

The Presidency says Nigeria attracts over 8 billion Dollar (about N12.8 trillion) investments in deepwater projects and gas Final Investment Decisions (FIDs) in one year.

Olu Verheijen, Special Adviser on Energy to President Bola Tinubu disclosed this on Wednesday, at the 2025 Africa CEO Forum holding in Abidjan, Côte d’Ivoire.

A statement on the address of Verheijen at the event was made available to the News Agency of Nigeria (NAN) in Abuja by Mr Senan Murray, the Team Lead, Communications, in the Office of the Special Adviser.

According to Murray, the Special Adviser told policymakers, investors, and industry leaders across the continent, that the feat was achieved through decisive actions taken by President Tinubu.

She said the actions focused on improved fiscal terms, streamlined contracting timelines, greater clarity to local content rules, and power sector reforms enabling gas-to-power commercial viability.

Verheijen, therefore, charged industry leaders across the continent, to take cue from Nigeria, by ensuring that Africa move beyond appeals for support, but become an investment destination by design; anchored in policy clarity, commercial logic, and strategic intent.

“Africa must partner smartly, not from dependency, but from aligned strategic interest.

“Nigeria has been able to prove that this approach works. We moved from gridlock to greenlight, and investors responded.

“Nigeria’s attainment of an increase in indigenous equity in gas, from 69 per cent to 83 per cent, is not just a statistic but a seismic shift in ownership and control of Africa’s energy future,’’ she said.

Verheijen urged African investors, DFIs, banks, pension funds, and sovereigns, to be strategic in focus, and strive to fill the vacuum left by International Oil Companies (IOCs), not just with funding, but with fit-for-purpose instruments and risk-sharing structures.

“Our sweet spot is onshore, shelf, and domestic gas. That’s where African players must dominate, because we understand the terrain, the risk, and the reward,’’ she said.

Verheijen celebrated the feats of African private sector champions, like Seplat, Oando and Renaissance, who, according to her, are no longer just “local players.”

The Special Adviser specifically, hailed Renaissance Africa Energy Consortium’s acquisition of Shell’s onshore JV, which she said is “a symbolic transition from colonial-era concessions to indigenous control.’’

She said the 650,000 barrels per day Dangote Refinery, the largest single-train refinery in the world, was built by African capital, African hands, and African ambition.

According to her, the project is not just infrastructure, but proof that African industrial scale is not aspirational, but operational.

Concluding, Verheijen urged the players across the continent to get their policies, commercial logic and strategic intent right to attract capital and investments.

“When we get that right, capital won’t hesitate, it will pursue us. The future will not be given to Africa. It must be built deliberately, unapologetically, and on our terms,’’ she said. (NAN) (www.nannews.ng)

Edited by Rotimi Ijikanmi

ECOWAS Court dismisses Ivorian’s suit challenging her colleague’s appointment
Foreign , Judiciary

ECOWAS Court dismisses Ivorian’s suit challenging her colleague’s appointment

By Mark Longyen

 

The ECOWAS Court has dismissed a suit filed by its Ivorian employee, Ms. Mariame Kone-Toure, seeking to terminate the appointment of her Gambian colleague, Ama Savage.

 

The News Agency of Nigeria (NAN) reports that Kone-Toure had served in an acting capacity from Feb. 2023, as of Head of Administration and Human Resources Division, ECOWAS Court of Justice.

 

She later applied for the substantive position when it was advertised in May 2023.

 

However, following the recruitment interview conducted in January 2024, Savage was appointed in October 2024 instead.

 

In her submission before the court, Kone-Toure had claimed that the selection process violated the principles of fairness and non-discrimination as enshrined in the ECOWAS Staff Regulations.

 

The applicant had argued that, although she was one of the top candidates, the Management Succession Committee only recommended Savage as the sole candidate for the substantive position.

 

According to her claims in the suit marked: No. ECW/CCJ/APP/32/24, the process is in contrast to similar recruitments in other ECOWAS institutions, where multiple top candidates are usually recommended.

 

However, ECOWAS had in its submission before the court through its counsel, argued that Savage was the most qualified candidate for the position.

 

Delivering judgment, Justice Dupe Atoki, on behalf of a three-member panel of the court presided over by Justice Sengu Koroma, the Vice President of the Court, dismissed all the Ivorian’s claims.

 

The panel, which also had Justice Gberi-Bè Ouattara as a member, upheld ECOWAS’ submission that Savage was the most qualified candidate for the position.

 

It declared that Kone-Toure’s claims were unsubstantiated, adding that her non-selection was not in any way a violation of her rights.

 

The court further held that Savage’s appointment complied with ECOWAS Staff Regulations, and the applicant did not provide evidence of discrimination or procedural irregularity against her colleague’s appointment.

 

“On the merits, the Court examined allegations of discrimination under Article 4(1) and the principle of equitable geographical distribution under Article 9(2)(f) of the ECOWAS Staff Regulations.

 

“It found that the applicant failed to provide sufficient, verifiable evidence of differential treatment in similar circumstances.

 

“The court notes that, while she referenced practices in other institutions, she did not present the names or scores of the candidates allegedly favoured, preventing a meaningful comparative analysis.

 

“On the claim regarding geographical distribution, the court rules that the principle applies only among equally qualified candidates and does not override the requirement of merit-based selection,” the judgment reads in part.

 

Earlier, the court ruled on jurisdiction, by affirming its competence to hear the matter under Article 9(1)(f) of the 2005 Amended Protocol.

 

It also held that the suit was admissible as the applicant had exhausted all available internal remedies by initially appealing in futility to the president of the ECOWAS Commission before approaching the court. (NAN)(www.nannews.ng)

Edited by Sadiya Hamza

Diversifying investment portfolio, infrastructure development via Sovereign Sukuk
Features

Diversifying investment portfolio, infrastructure development via Sovereign Sukuk

By Kadiri Abdulrahman

With the rapid growth of Nigeria’s population and the attendant need for development, it has become imperative for government to build infrastructure at minimal cost.

Stakeholders posit that bad infrastructure is one of the country’s biggest roadblocks to smooth corporate operations and capital inflows.

They say the present mode of financing infrastructure is usually marred due to high cost of servicing the debt secured to finance the infrastructure deficit in Nigeria.

Experts say Sukuk financing is one of the effective alternatives and strategies for enhancing growth and development through capital project financing.

Recently, the Debt Management Office (DMO) hosted an investor meeting for the N300 billion series seven Sovereign Sukuk issuance in Abuja.

The DMO had earlier hosted an all parties meeting on March 26 in Lagos, in preparation for the Sukuk issuance.

The Director-General of the DMO, Patience Oniha, said that the Federal Government had been able to raise a total of N1.09 trillion through the Sovereign Sukuk since 2017, to support infrastructure development.

Since 2017, the DMO has completed six Sukuk issuances, raising N1.092 trillion to fund road and bridge projects.

Oniha recalled that the first Sukuk was issued in September, 2017.

She said that after extensive marketing, the offer, which was for N100 billion with a tenor of seven years, received a total subscription of N105.878 billion.

Oniha said that following the modest success of the first Sukuk and the achievement recorded from Sept. 2017 to Dec. 2023 when the last Sukuk was issued, the DMO had raised a total of N1.09 trillion.

“With this amount, over 4,100 km of roads and nine bridges across the six geopolitical zones in Nigeria and the Federal Capital Territory have either been constructed or rehabilitated.’’

Oniha said that the projects had brought substantial benefits, including reduced travel time improved road safety and job creation.

She said that the projects also created improved access to markets for remote farmers, increased access to public services like education and healthcare, and economic development as a whole.

“In addition to those benefits, other reasons for the sustained issuance are the fact that the Sukuk is project-tied, promotes financial inclusion and contributes to the development of the domestic financial market.

“Sukuk has been well accepted as demonstrated by the level of subscription received in the past.

“Investors get fulfillment of contributing to infrastructure development, and also getting a return in terms of income which is paid every six months,” Oniha said.

Experts say that if alternatives sources with minimum cost are pursued, Sukuk can be a viable option for funding large-scale infrastructure investments in Nigeria.

They urged the Federal Government to take immediate steps to increase non-Muslim awareness of Sukuk by engaging in more interactions with the public, to improve capital market intermediation and stimulate the issuance of more Sukuk as a reliable source of funding.

According to them, Sovereign Sukuk has contributed to financial inclusion and economic growth by providing Shariah-compliant investment opportunities, catering to certain underserved populations.

“It also attracts diverse investors, including Islamic finance institutions, broadening the investor base and deepening financial markets.

“Sukuk injects liquidity into the economy, promoting economic activity and growth.

“These contributions can have a positive impact on overall economic growth and development,’’ an economist said.

For investors, Sukuk provides a sense of project ownership and ensures that economic activities are based on tangible assets, giving investors a secure foundation for their investments.

For the government, Sukuk can be an effective financing instrument for infrastructure development and economic growth, as seen in countries like Indonesia.

However, experts advise government to establish a comprehensive approach to assist working units in technical ministries in project preparation, development, and service delivery.

They call for support and guidance for instrumental stakeholders like technical ministries to have the authority and tools to achieve Sukuk project success.

Sukuk can contribute to achieving sustainable development by benefiting individuals, institutions, societies, and the country as a whole.

Investors in Nigeria see Sukuk as an attractive option for diversifying their portfolios and supporting infrastructure development.

However, industry analysts believe that Sukuk, as a source of financing infrastructural deficit in Nigeria, needs to attract young retail investors.

They believe that Nigeria can benefit immensely from deep capital for financing infrastructure through Sukuk.

Uche Uwaleke, a Professor of Capital Market at the Nasarawa State University, Keffi, said that Sukuk was the route to go by the Federal Government in obtaining project-tied credit facilities.

According to Uwaleke, the issuance of N300 billion Sukuk by the DMO on behalf of the Fededal Government is highly commendable.

“Recall that when the Federal Government first entered the Sukuk market in 2017, only N100 billion worth of Sukuk was issued.

“So, the current one represents an improvement as investors are given more room to diversify their portfolio.

“I am particularly happy that the government is upscaling the use of Sukuk in plugging the infrastructure gap in Nigeria.

“The advantage that Sukuk has over the conventional bond is that it is asset-backed.’’

Uwaleke said that Sukuk proceeds must be tied to infrastructure which was why proceeds had been applied to road construction.

“Given that it is an infrastructure based bond, Sukuk represents a critical instrument for Nigeria’s economic development.”

The expert, however, said that the Sukuk market size in Nigeria was still very small despite the potentials

He urged governments, both at the federal and sub-national levels to utilise more of Sukuk when raising funds from the domestic capital market considering the huge infrastructural gap in the country.

“It is by so doing that government borrowing can be more impactful and also work to reduce the country’s debt burden,” he said.

He urged members of the public to take advantage the opportunity and invest in Sukuk because, unlike conventional bonds, as it was tax- free with a predictable and stable return.

Attahiru Machido, a stockbroker, said that the idea of Sovereign Sukuk was informed by the need to bridge infrastructure deficit in the country.

Machido said that the roads constructed with the proceeds of Sukuk would be effectively supervised to ensure that they meet the required standard.

“The roads must remain usable throughout the lifespan of the Sukuk ” he said.

Olalade Agboola, bank executive, said that Sukuk, like all other government securities, was backed by the full faith and credit of the federal government and charged upon the general assets of Nigeria.

“It also qualifies as securities in which trustees can invest under the Trustees Investment Act.

“It qualifies as government securities within the meaning of the Company Income Tax Act and Personal Income Tax Act for tax exemption and pension funds, amongst other investors,” she said.

As the Federal Government continues to explore funding options to bridge the wide infrastructure gap, experts hold that a cost effective, project-tied credit option like the Sovereign Sukuk is a veritable choice.(NANFeatures)

***If used, please credit the writer and the News Agency of Nigeria.

Saudi KSrelief conducts 21,000 free eye surgeries in Nigeria – Official
Foreign

Saudi KSrelief conducts 21,000 free eye surgeries in Nigeria – Official

By Nabilu Balarabe

The King Salman Humanitarian Aid and Relief Center (KSrelief), Saudi Arabia, has conducted 21,000 free sight-restoring surgeries in Nigeria since 2019.

Mr Mohammed Al-Sahabi, the Project’s Communications Officer, stated this during an eye treatment outreach organised by KSrelief in Potiskum, Yobe on Tuesday.

He said the centre had also carried out over 218,000 ophthalmic screenings and distributed more than 45,000 prescription eyeglasses to patients under the Saudi Noor project.

“This mission-driven project encompasses a broad range of clinical interventions, including diagnostic eye examinations, cataract extraction with intraocular lens (IOL) implantation, treatment of refractive errors, and distribution of corrective eyewear.

“The Saudi Noor project is executed under the guidance of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness the Crown Prince Mohammed bin Salman.

“It reflects the Kingdom of Saudi Arabia’s broader global humanitarian vision-championed through KSrelief-to enhance health outcomes and reduce disease burdens in vulnerable populations,” Al-Sahabi said.

The official said the outreach, scheduled to hold from May 12 to 19 in Potiskum, aimed to deliver comprehensive ophthalmologic services to the under-served population in the North-East to prevent blindness.

He said the centre planned to conduct about 5,000 ophthalmic surgeries and distribute 130,000 eye glasses to patients during the outreach in Potiskum.

Al-Sahabi noted that KSrelief efforts had significantly improved visual outcomes and quality of life indicators among thousands of Nigerians, especially in rural communities where access to eye care was critically limited.

The official added that the global outreach of KSrelief had earned it the recognition as one of the world’s most active humanitarian institutions.

“Since its establishment in 2015, the Centre has implemented more than 3,400 humanitarian projects across over 107 countries.

“Currently, its medical and humanitarian presence spans over 30 nations, with blindness prevention campaigns actively conducted in Sudan, Yemen, Bangladesh, and Mauritania, among others,” he said.(NAN)(www.nannews.ng)

Edited by Yakubu Uba

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